Connecting a Europe Financial Institution to NetSuite

Important:

The Bank Feeds SuiteApp includes Third Party Applications provided by Salt Edge Limited. Your access to and use of such portions of the SuiteApp may be subject to separate terms and conditions and a separate privacy policy between you and Salt Edge Limited. Any such separate terms will be made available for your review before you enable the relevant portion of the SuiteApp. You must carefully read these terms before enabling this functionality, and if you are not willing to be bound by these terms or are not authorized to accept these terms on behalf of your company or organization, do not enable this functionality.

The following procedure describes how to connect single or multiple PSD2 regulated financial institutions in Europe to NetSuite. The same procedure also applies if you want to connect to financial institutions operating globally and are not country-specific.

Important Things to Note:

Before you proceed with connecting your financial institution to NetSuite, take note of the following:

• This task requires the Administrator access or a custom role with required permissions for bank feeds setup. For more information, see Roles and Permissions for Bank Feeds.

• To display the configuration window, enable popups in your browser.

To connect NetSuite to a financial institution operating in Europe:

1. Go to Setup > Accounting > Financial Statements > Financial Institution > List.

2. On the Financial Institution page, click View next to the Bank Feeds financial institution record.

3. On the Format Profile: Configuration subtab, click Edit next to Connect to Europe Accounts.

4. On the Connect to Europe Accounts Format Profile page, click the Connectivity Configuration subtab.

5. Register your account to the Authorized Account Information Service Provider (AISP) of NetSuite.

   If you are connecting to a financial institution for the first time, you must first register your NetSuite email address with Salt Edge Limited, the AISP of NetSuite.

   1. Read and acknowledge the information on the page. Make sure you are authorized to register your NetSuite account to Salt Edge Limited. Contact your Administrator for more information.

   2. Check the value on the Email field. The Email field automatically populates with the email address you are currently using to log in to NetSuite.

   3. Click Register.

   4. An email notification will be sent to the email address to confirm your registration and access to your Salt Edge Dashboard account. On the Salt Edge Dashboard, you can review and delete configuration consents.

6. In the popup window that appears, perform the following steps:

   1. Search your financial institution by entering a name or a keyword.

   2. Select your preferred financial institution from the result list.

   The Connectivity Configuration subtab is masked and you cannot make any changes until you have completed the configuration setup. To close the popup window, click Cancel, or close the window to go back to the Connectivity Configuration subtab.

7. Depending on your selected financial institution, enter your log in credentials or grant NetSuite access to your account.

   Click the Show Instructions expandable content for more information.

8. Click Next.

9. To comply with Europe’s anti-money laundering and KYC (Know Your Customers) requirements, you must validate your identity during registration. Enter your full name or select the ownership type of the NetSuite account you are registering. In some cases, you must provide both information.

   Note:

   Additional information may be required as part of the KYC requirements.

10. Click Proceed.

11. Read the notice on data sharing and then acknowledge by checking the box on the page to grant consent to Salt Edge Limited.

12. Click Confirm.

    The system will then validate your login credentials and start establishing a secure connection to your financial institution.

    You may also be redirected to your financial institution's website to grant NetSuite access to your account before the system can start establishing a secure connection.

13. A progress of your configuration process appears.

    If you are configuring an multifactor authentication (MFA) account which requires additional validation, enter the necessary confirmation and then click Next.

14. The configuration setup continues by retrieving all associated bank and payment accounts from your financial institution. In some situations, your financial institution will require you to select associated accounts you want to include for bank feeds integration. To proceed, check the box next to the bank or payment account you want to include.

    Note:

    Only select bank or payment accounts supported by the Bank Feeds SuiteApp. Selecting an unsupported account type such as loan, mortgage, and investment will not apply to your bank feeds setup.

    After the configuration process is completed, the configuration window automatically closes and then you will be redirected back to the Connectivity Configuration subtab.

    The Connectivity Configuration subtab page is refreshed with your configured connection. All active financial institution connections are listed under the Connections subtab, while all connected bank and credit card accounts are listed under the Accounts subtab.

15. To connect and set up another financial institution account in NetSuite, click Connect New Institution. You can connect to a different financial institution or the same financial institution but using a different login credential.

16. After entering the required configuration data, continue to the Account Linking subtab. From each Linked GL Account dropdown list, select a bank or credit card account in NetSuite you want to link to the adjacent accounts. See Linking Accounts for Financial Institution Connectivity.

17. Click Save on the format profile record.

Related Topics

• Managing Europe Financial Institution Connections
• Managing Europe Bank and Payment Accounts for Bank Feeds

General Notices